My husband and I are planning to buy a flat in Stilton and are in fact using a Stilton conveyancing firm. Within the last couple of days our solicitor has forwarded the sale agreement to be signed with a detailed report with a view to exchanging next week. Skipton Building Society have this morning contacted us to advise us that there is now an issue as our Stilton conveyancer is not on their approved list of lawyers. What do we do from here?

Where you are buying a property requiring a mortgage it is conventional for the purchasers' lawyers to also represent the purchaser's lender. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your solicitor should contact your lender and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You are not legally obliged to appoint a law firm on the lender’s conveyancing panel and you may continue to use your own Stilton solicitors, in which case your legal fees may increase, and it may delay matters as you have another set of people involved.

My lawyer has uncovered a a legal deficiency with the lease for the property we are purchasing in Stilton. The seller’s lawyers have offered defective title insurance as a solution. We are content with insurance and will cover the costs. Our conveyancing practitioner has advised that he must check that the lender is happy with this solution. Are we the client or is the lender?

The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the bank are the client. Your lawyer must comply with the UK Finance Lenders’ Handbook specifications. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the bank can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your conveyancer will have no choice but to discontinue acting for you.

I am the registered owner of a freehold property in Stilton yet pay rent, why is this and what is this?

It’s unusual for properties in Stilton and has limited impact for conveyancing in Stilton but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.

Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back many centuries, but the Rent Charge Act 1977 barred the generation of fresh rentcharges post 1977.

Old rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 is to be extinguished.

Can you clarify what the consequences are if my lawyer’s firm is expelled from the Nottingham Solicitor panel ahead of completing my conveyancing in Stilton?

The first thing to point out is that, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.

Expecting to complete next month on a leasehold property in Stilton. Conveyancing lawyers have said that they report fully tomorrow. Are there areas in the report that I should be focusing on?

The report on title for your leasehold conveyancing in Stilton should include some of the following:

The unexpired lease term. You should receive guidance as what happens when the lease ends, and informed of the importance of not letting the lease term falling below eighty years The total ownership of the demise. This may be the flat itself but might incorporate a attic or cellar if relevant. Does the lease prohibit wood flooring? An explanation concerning the obligations as set out in the lease to pay service charges - in respect of the block, and the more general rights a tenant has Who has the liability to repair and maintain the building. It is essential for you to know which party is duty bound to repair and maintenance of every part of the building

I inherited a garden flat in Stilton, conveyancing was carried out in 2009. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding properties in Stilton with an extended lease are worth £206,000. The ground rent is £45 yearly. The lease expires on 21st October 2090

With 66 years remaining on your lease we estimate the price of your lease extension to range between £11,400 and £13,200 plus plus your own and the landlord's "reasonable" professional fees.

The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you move forward based on this information before seeking the advice of a professional.